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Gold & Silver DAILY NEWS

The gold and silver markets have rallied during the last three weeks, and despite brief hiccups in gold and silver prices, the prices of both metals are currently near six-week highs. As of 8am EST … Read More

Now Is Time For Gold And Silver

Post by Janet Jones
on February 27, 2010

February 26, 2010 – As the precious metal markets continue to react to a number of events worldwide, now is the time to invest in gold and silver. Events that occurred during previous rallies of the metals are repeating themselves, revealing to analysts and investors that both metals are positioning themselves for potentially big runs upward. As of 2:30 PM EST today, gold prices raised $8.80 to $1,116.40 per ounce and silver was up 37 cents to $16.47 per ounce.

As evidenced by the debt problems in Greece, the unemployment problems in the United States, the inflation in England and other issues, the world has not recovered from the economic crisis of the past two years. Nearly every currency is suffering deflation and a number of countries are in danger of default. Gold and silver continue to perform well as investments because, as Howard Ruff of CommodityOnline says, they “have been real money over and over again, in all ages of time and on all continents.” With the continuing deflation of currencies and the acceptance of both metals as alternative currencies, price increases are likely.

Supply and demand is another reason why now is the time to buy gold and silver. As Ruff states, “All the gold ever mined since the dawn of history, including that in central banks, gold fillings, and sunken shipwrecks in the Caribbean, etc. would cover a football field about four-feet deep. It would make a cube about the size of a typical 8-room house. Demand is now leaping past new supplies.” This relative shortage applies to silver as well, and both metals are used for more applications every day.

These are just a few of the reasons why prices are likely to climb. Bradley George and Daniel Sacks of the Investec Global Gold Fund are among those who see the $1,300 price level as being possible this year and experts like Wells Wilder of New Zealand are predicting prices of $5,000 per ounce within the next two years due to swelling demand.

For investors who are aware of the problems facing the world economy today and the current level of demand, investing in metals is a wise move. With the role that gold and silver have played throughout history, now is a good time to buy both of these valuable assets.